Appleton Partners Inc. MA Sells 1,834 Shares of GE Vernova Inc. (NYSE:GEV)

Appleton Partners Inc. MA trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,703 shares of the company’s stock after selling 1,834 shares during the quarter. GE Vernova makes up approximately 1.3% of Appleton Partners Inc. MA’s holdings, making the stock its 16th biggest position. Appleton Partners Inc. MA’s holdings in GE Vernova were worth $17,007,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GEV. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova in the third quarter worth $2,507,296,000. International Assets Investment Management LLC increased its holdings in GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after acquiring an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC increased its holdings in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter. FMR LLC lifted its stake in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after purchasing an additional 460,834 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of several research reports. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. BMO Capital Markets increased their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Citigroup boosted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $346.22.

GE Vernova Stock Performance

Shares of GEV opened at $377.99 on Friday. The company has a 50 day moving average price of $357.71 and a 200-day moving average price of $284.04. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock has a market capitalization of $104.19 billion and a PE ratio of 67.98.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.